Price analysis of Ethereum (ETH) – 28 September

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Medium-term trend in the price of Ethereum: Bulish

Supply zones: $ 400, $ 450, $ 500

Application areas: $ 150, $ 100, $ 50

ETH is in an uptrend in its medium-term outlook. The bulls took control of the market with a large engulfing candle that broke $ 222.44 in the top supply area of ​​yesterday's range. $ 235.20 was the highest reached by ETH yesterday against the high of the day before $ 223.00. This is an indication of increased bullish momentum over the medium term.

The stochastic oscillator is located in the overbought region at 86% with its high signal. This implies a surge towards the top of the price.

Although the 4-hour spark plug was a doji, for a turnaround, the bullish pressure was sustained and the ETH prospect remains bullish.

The price is above the two EMA crossovers and inside the fib level 38.2. As more candles form and close above the crossover, $ 260 in the supply area remains the medium-term bull's goal.

Short-term trend in the price of Ethereum: bullish

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ETH is bullish in its short-term outlook. $ 223.90 in the upper refueling area was well broken with a candle swallowed while the strong bullish pressure of $ 209.96 in the demand area continues. The formation of a bearish pinbar after the ETH reached a maximum of $ 235.20 had little effect. The 1-hour spark plug at 228.01 supported the bullish momentum and the price returned to $ 234.19 in the supply area.

The structure of the ETH is at W. The last wing is currently being formed. With the price above the two EMA crossovers, the upward pressure could continue in the short term and ETH could be raised to $ 248.00 in the supply area.

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